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Original poster

Tell me I'm being silly!

12 replies

DipDabDabDip · 18/01/2014 21:06

I am asking work on Monday for a flexible working request to halve my hours. We have sat down and worked out our finances, and after every bill has come out, including shopping, mortgage and petrol we will be left with £500 disposable income a month for me, DH and 9mo dd.

So why am I so scared? That's loads isn't it?! I can't quite believe that I may actually be able to go part time as well so that might be part of it.

Tell me I'm being silly and that having £500 left after bills is good and I should be grateful that I'm going to be able to do this.

OP posts:
zizzo · 18/01/2014 21:08

I wish I had the same Shock

So at the moment you'd be able to about £1k a month away for savings?

That's loads IMO. So is £500, unless you regularly have a blow-out such as holidays etc.

sherbetpips · 18/01/2014 21:09

Sounds good as long as all the bills are accounted for, food, petrol, etc. it's only £100 per week between three of you. Do you know how much of your disposable income you currently spend per week? You might be surprised how much more you spend than that.

oadcb · 18/01/2014 21:10

That's a lot to me!

Maybe do a money diary to assess current level?

mrscog · 18/01/2014 21:12

Have you been back to work ft yet? I only ask as when I went back I dropped to 3 days a week which I got by moving jobs. However I really regretted it as I'm just not cut out for looking after a toddler! My advice to everyone now is test out full time before you change your hours.

HaveYouTriedARewardChart · 18/01/2014 21:14

Of course you'll manage if it's the right thing for you. But I think (in our house at least) it would be surprising how quickly that would disappear - car and house repairs, holidays, presents, cafes..... mind you my dc are bigger so more costs for activities, school dinners etc.

Original poster
DipDabDabDip · 18/01/2014 21:31

I had my heart set on part time when returning to work but got made redundant during mat leave. I had to take an inflexible full time job (same company different department.)

I've not worked a full week since going back as got a full years holiday to take before the end of March.

The part time I can do in this job is less hours than we initially planned which is why we've been going over everything. With childcare if I were to work full time we would be another £150 better off but it would be so stressful.

It has been a struggle to get the both of us and baby out of the house in time for work on the 3 days I'm doing at the minute to get her to nursery would be an added headache. My team will also be moving offices shortly which will add at least an extra 25 mins on my commute each way and I already get up at half 6, and dd still wakes in the night.

We would be able to put around £250 into savings a month I would have thought and the rest of the money would be for clothes, takeaway things like that. Everything else is budgeted for. We survived on less than this while I was on maternity as well.

I'm so pleased that I will be able to do it I'm waiting for something to burst my bubble I think.

OP posts:
HaveYouTriedARewardChart · 18/01/2014 21:59

Wierdly we've been doing the same sort of calculations tonight. I do 3 days but pg with dc3 and really struggling so thinking of going to 2. The thing is I know we spend so much more than the spreadsheet tells us! But keeping your life manageable and having time with your dd is important and if you can make it work it's definitely worth it.
Btw did you remember to work out your tax as it'll be a lower band possibly?

Original poster
DipDabDabDip · 18/01/2014 22:04

I won't pay tax as I'll be under the bracket which is a bonus! I was crushed when I found out I would get the two days with dd and I know we will have to watch what we spend as we can easily fritter it on nothing, but I think the motivation of being at home will be enough as we managed to curb our spending to save for my maternity.

OP posts:
Original poster
DipDabDabDip · 18/01/2014 22:04

*wouldn't

OP posts:
Callani · 21/01/2014 09:34

Sounds good OP - one thing I would say is make sure within your calculations you're setting aside money for one off costs.

For example, I'm trying to pay my car insurance upfront this year so I'm currently saving £50 a month for that, I'm also saving £30 a month for Christmas / birthday presents so there's a pot I can go to when I need it rather than feeling really poor in December.

I think £500 a month will easily cover this though!

alma123 · 21/01/2014 20:49

It depends entirely on whether you are comfortable with that. I'm used to more than £500 disposable income per month but I could cope with that if it was going to give me the lifestyle I wanted i.e. more time at home with baby.

love2themax · 26/01/2014 11:43

Its a hard one to answer as everyone lives to their means

That's a lot of money to have to spend on whatever you like if shopping and petrol etc is already accounted for......but in my world.

In my world I have approx 150 to live off a week which is: grocery's, fuel, any birthdays/savings/fun.

Therefore I feel having that much money would be doddle!

The question is: how would you spend it?!

Be wise, and you will be fine!

Enjoy your new found time to spend with your daughter :-)

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